DA Davidson has reiterated a Buy recommendation on Boise Cascade Company (NYSE:BCC), keeping a $95.00 price target in place following the company’s fourth-quarter 2025 earnings report. The stock is trading at $84.13, below analyst consensus targets that span $81 to $100, and Boise Cascade carries an approximate market capitalization of $3.08 billion.
In the fourth quarter, Boise Cascade reported EBITDA that landed at the high end of its previously issued outlook. Within the business mix, pricing for engineered wood products was essentially unchanged from the prior quarter, while the building materials distribution segment delivered profitability that beat expectations and experienced less deflationary pressure than analysts had anticipated.
DA Davidson observed that these results point to the possibility that wood products profitability and margins may have already reached their nadir, and that the bottom may sit slightly above levels the firm had modeled earlier. The analyst team signaled it will review its financial model for Boise Cascade after the company’s scheduled conference call and once management issues its first-quarter 2026 outlook, which is due to be released Tuesday.
On the capital allocation front, Boise Cascade repurchased $70 million of its own shares during the fourth quarter of 2025, an action InvestingPro characterizes as aggressive buyback activity by management. The company closed the year with a modest net cash position despite completing the acquisition of Holden Humphrey, a building materials distributor based in Chicopee, Massachusetts - a transaction for which financial terms were not disclosed.
Balance-sheet metrics at year-end included a current ratio of 3.1 and a debt-to-equity ratio of 0.24. These metrics helped support a modest net cash position following the acquisition. InvestingPro’s Fair Value analysis indicates BCC may be trading below intrinsic value at current levels, noting a price-to-earnings ratio of 15.94.
DA Davidson said its model will be under review pending additional detail from Boise Cascade’s management team. Separately, the company has declared a quarterly cash dividend of $0.22 per share, with a record date of February 23, 2026 and a payment date of March 18, 2026.
Other analyst commentary included BMO Capital’s decision to reiterate an Outperform rating with a $100.00 price target, citing the current share price as an attractive entry point for patient investors, even as housing-market volatility remains a potential headwind.
Boise Cascade also announced an executive leadership change. CEO Nate Jorgensen is set to retire on March 2, 2026, and COO Jeff Strom will assume the CEO role effective March 3, 2026. Jorgensen will remain on the company’s board of directors, and the company characterized the handover as part of a long-term succession plan.
Looking ahead - Market participants will be watching the company’s upcoming first-quarter 2026 outlook and the conference call for details that could alter analyst projections and valuation models.